[ad_1] © Reuters. FILE PHOTO: The German share worth index DAX graph is pictured on the inventory change in Frankfurt, Germany, November 9, 2020. REUTERS/Workers/File Picture By Huw Jones LONDON (Reuters) – Reforms to deal with vulnerabilities in cash market funds are urgently wanted for the sector to manage higher with financial shocks, a high European Union securities regulator stated on Tuesday. Cash market funds or MMFs are broadly utilized by corporations for day-to-day financing functions. However MMFs in Europe and the USA struggled with redemptions in some circumstances when economies went into lockdown to struggle COVID-19 in March 2020,…
Author: Reuters
[ad_1] 5/5 © Reuters. A pig passes by the destroyed wall of a home following an earthquake in Isla Puna, Ecuador March 18, 2023. REUTERS/Maria Fernanda Landin 2/5 (Reuters) – Ecuadorian and Peruvian authorities labored on Sunday to evaluate the injury brought on by the day before today’s robust earthquake that shook the area, leaving not less than 15 lifeless and lots of injured. The 6.8 magnitude quake struck the Ecuadorian coastal province of Guayas at noon on Saturday, with residents reporting shaking in a lot of the nation in addition to in Peru’s northern border cities. At midnight on…
[ad_1] © Reuters. FILE PHOTO: Destroyed SVB (Silicon Valley Financial institution) brand and U.S. flag is seen on this illustration taken March 13, 2023. REUTERS/Dado Ruvic/Illustration/File Photograph (Reuters) -First Residents BancShares Inc is evaluating a proposal for Silicon Valley Financial institution, Bloomberg Information reported on Saturday, citing folks conversant in the matter. No less than one different suitor is making a critical consideration for the collapsed lender, the report mentioned. SVB and First Residents didn’t instantly reply to Reuters’ request for remark exterior of enterprise hours. Reuters reported earlier this week that the Federal Deposit Insurance coverage Corp had requested…
[ad_1] © Reuters. FILE PHOTO: A brand is seen on the headquarters of Swiss financial institution Credit score Suisse on Paradeplatz in Zurich, Switzerland March 16, 2023. REUTERS/Denis Balibouse By Stefania Spezzati, Oliver Hirt and John O’Donnell (Reuters) – UBS AG is asking the Swiss authorities to cowl about $6 billion in prices if it have been to purchase Credit score Suisse, an individual with data of the talks mentioned, as the 2 sides raced to hammer collectively a deal to revive confidence within the ailing Swiss financial institution. The 167-year-old Credit score Suisse is the most important identify ensnared…
[ad_1] © Reuters. FILE PHOTO: Then-Slovak Finance Minister Peter Kazimir attends the Asian Monetary Discussion board in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Financial institution must maintain elevating rates of interest as a result of underlying worth progress is sticky, two policymakers seen as hawkish mentioned on Friday, amid continued turmoil within the banking sector. The feedback by Slovak central financial institution governor Peter Kazimir and his Lithuanian peer Gediminas Simkus appeared to problem the ECB’s new official line – solely a day previous – that future…
[ad_1] © Reuters. A First Republic Financial institution department is pictured in Midtown Manhattan in New York Metropolis, New York, U.S., March 13, 2023. REUTERS/Mike Segar By Lananh Nguyen, Pete Schroeder, Andrea Shalal and Megan Davies (Reuters) -First Republic Financial institution’s shares fell 17% in prolonged buying and selling on Thursday, regardless of an unprecedented present of help within the financial institution from practically a dozen of the world’s largest monetary establishments. In an uncommon rescue that a number of sources mentioned was orchestrated by JPMorgan Chase & Co (NYSE:) Chief Government Jamie Dimon earlier this week together with Treasury…
[ad_1] © Reuters. FILE PHOTO: A driverless Gatik supply field truck operates in Bentonville, Arkansas, U.S. on this image taken in October 2021 and obtained by Reuters on Might 18, 2022. Gatik/Handout by way of REUTERS By Abhirup Roy SAN FRANCISCO (Reuters) – Self-driving trucking startup Gatik will double its workforce by 12 months finish, a high government stated, after it introduced a deal on Wednesday with grocer Kroger (NYSE:) Co to move items inside its Dallas, Texas community. Gatik, which operates conventional mid-sized vehicles fitted with its autonomous know-how, aimed to broaden to fifteen new U.S. states over 5…
[ad_1] © Reuters. Chinese language Premier Li Qiang waves as he leaves a information convention following the closing session of the Nationwide Folks’s Congress (NPC), on the Nice Corridor of the Folks, in Beijing, China March 13, 2023. REUTERS/Florence Lo/Pool BEIJING (Reuters) – China will rigorously implement state institutional reforms and guarantee orderly operations, state media reported, citing the primary cupboard assembly chaired by the brand new premier Li Qiang on Tuesday. Li, the previous Communist Get together chief of Shanghai, was put in as premier on Saturday through the annual session of China’s parliament and is tasked with reviving…
[ad_1] © Reuters. FILE PHOTO: U.S. President Joe Biden speaks throughout a gathering with President of the European Fee Ursula von der Leyen within the Oval Workplace of the White Home in Washington, D.C., U.S., March 10, 2023. REUTERS/Sarah Silbiger/File Picture By Steve Holland, Elizabeth Piper and David Brunnstrom SAN DIEGO (Reuters) -The US, Australia and Britain on Monday unveiled particulars of a plan to supply Australia with nuclear-powered assault submarines from the early 2030s to counter China’s ambitions within the Indo-Pacific. Addressing a ceremony on the U.S. naval base in San Diego, accompanied by Australian Prime Minister Anthony Albanese…
[ad_1] © Reuters. By Jonathan Stempel WASHINGTON (Reuters) – The U.S. authorities on Monday sued Ceremony Assist (NYSE:) Corp, accusing the pharmacy chain of lacking “pink flags” because it illegally crammed lots of of hundreds of prescriptions for managed substances, together with opioids. In a criticism filed in Cleveland federal court docket, the Division of Justice mentioned Ceremony Assist repeatedly crammed prescriptions from Might 2014 to June 2019 that had been medically pointless, for off-label use, or not issued within the common course {of professional} follow. “The Justice Division is utilizing each software at our disposal to confront the opioid…